Study: Providence not best place to start a business

PROVIDENCE – The city is not the best place to start a business.

In fact, it’s the second-worst large city in the nation to start one, ahead of only Ontario, Calif., according to the latest study by personal-finance website Wallethub.

WalletHub looked at the 150 most-populated U.S. cities to come up with its findings, naming Sioux Falls, S.D., the best place to start a business, Grand Rapids, Mich., second best, and Oklahoma City, third best.

WalletHub said it conducted the study to help aspiring entrepreneurs. It ranked cities across 16 key metrics, including five-year survival rate, office-space affordability, length of average workweek and percentage of the population with bachelor’s degrees, as well as the number of startups per 100,000 residents.

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In subcategories of business environment and costs, Providence ranked 149th and 100th, respectively. In the access-to-resources subcategory, it fared better, coming in 29th best. •

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